LONDON: A Formula One racing car driven by Michael Schumacher will be sold for US$11.3 million including other two Ferraris amid a hike price for the world's most desirable sport cars.
The three sport cars are included into 21 classic models that will be offered in Monaco by RIM Auctions on May 11-12 2012 coincided with the biannual Grand Prix de Monaco Hostorique.
So far, Ferrari SpA remains the pre-eminent brand for both established collectors of classic autos and wealthy individuals looking to diversify their investments.
"Ferrari trumps all other names in terms of prestige and liquidity," Geneva-based auto adviser Simon Kidston said in an interview.
"Collectors like to see the way this marque is traded regularly. If you have a good car that's priced correctly, you can find a buyer within hours. Overall, the trend is upwards," he added.
The most highly estimated Ferrari is a 375 MM Spider manufactured in 1953 that was successfully raced in Argentina in the mid-1950s and more recently in the Mille Miglia Storica. It has an estimate of 3.3 million euros (US$4.3 million) to 4.1 million euros. (Bloomberg/t01/tw)
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